America West Resources Prepares to Commence Shipments of Compliant Coal to China
Leases Coal Terminal at Northwestern U.S. Seaport
SALT LAKE CITY, April 27 /PRNewswire-FirstCall/ -- America West Resources, Inc. (OTC Bulletin Board: AWSR), a domestic coal producer with mining operations in Central Utah, today announced that it has secured a four year lease agreement with a coal storage and export terminal at a northwestern U.S. seaport in anticipation of commencing shipments of compliant thermal coal mined from its Horizon Mine in Carbon County, Utah to customers in China.
Dan Baker, Chief Executive Officer of America West, stated, "The leasing of a coal terminal on the U.S. west coast represents an important logistical milestone for our Company, and one that will allow us to efficiently support new coal supply contracts we are currently pursuing with numerous energy brokers and commercial energy producing concerns in China."
China relies on coal for up to 70% of its energy needs and is the world's largest consumer of coal. Moreover, the China Electricity Council predicted in February of this year that China's coal consumption for power generation and heating will reach 1.6 billion metric tons in 2010, up about six percent from a year earlier.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to U.S. utility companies for use in generating electricity. The Company operates the Horizon Mine, which has recoverable compliant coal reserves under lease of approximately 19 million tons. For more information, please visit www.AmericaCoal.com.
Forward-Looking Statements
This news release contains forward-looking statements. Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: |
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ELITE FINANCIAL COMMUNICATIONS GROUP |
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Dodi B. Handy, President & CEO (Twitter: dodihandy) |
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For Media Inquiries: Kathy Addison, VP, Elite Media Group (Twitter: kathyaddison) |
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407-585-1080 or via email at [email protected] |
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SOURCE America West Resources, Inc.
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